Danh mục nội dung
Compliance procedures for domestic and foreign corporations are slightly different from compliance procedures for foreign representative offices in Vietnam. However, any businesses in Vietnam should obtain an internal audit plan to review tax, employment relations, payroll and compliance reports.
The plan below covers major and typical tasks for a successful internal audit of your business.
A. TAX – ACCOUNTING
1. Review Tax Declaration:
- VAT Tax.
- Corporate Income Tax.
- Personal Income Tax.
- Foreigner Contract Tax.
- License Tax.
2. Review Tax Payment:
- Tax receipts.
- Inspect declared tax.
- Inspect paid tax.
- Evaluate tax balance – situation with the tax agency.
B. LABOR AND PAYROLL
1. Personnel record:
- Local employee record.
- Foreign employee record.
- Dependent relief record.
- Labour contracts and annex.
- Salary vouchers and documents.
- Tax withholding payment vouchers and receipts.
- Records of pregnancy, leave out, accident…
2. Labor compliance management:
- Employment record.
- Pay-scale.
- Declaration and payment of insurance.
- PIT declaration and settlement.
- Payment vouchers.
- Review payable and paid amounts to the state agencies.
- Foreign employees compliance procedures.
3. Salary and other Employment relations policies:
- Analyzing the payroll, structuring salary based on corporate divisions and individuals.
- Examining personnel record, KPI.
- Collecting employee’s attendance information, performance for payroll.
- Evaluating and updating labor regulations, rules and agreements.
- Announcing business results, achievement, KPI, salary and bonus for each employee.
Read more:
- 03 steps to a successful financial statements audit
- Notice on financial statement audit for FDI companies
- Legal documents review & completion program for business in Vietnam
- Taxable incomes from wages and remunerations
- Foreign employees – personal taxable income – methods of declaration
- Foreign representative office – cashbook and lawful invoices for tax inspection
- Representative office vs subsidiary vs branch? How to transform business models in Vietnam
- How to closure a foreign representative office – tax final settlement and tax completion certificate
